The Pacific Resilience Facility which is the first Pacific-led and member owned financial facility will be ready for business by 2026.

Currently, the facility has over $300 million pledged funds from member’s countries.

PRF aims to offer an integrated, compelling and disaster proposition for investors who want a higher social return in the Pacific.

Permanent Secretary for Climate Change Dr Sivendra Michael says this facility will simplify access to climate finance.

“We do acknowledge the need for direct access to financing that entrust the chosen deliverable delivers and the implementers with the authority to manage development financing.”

Permanent Secretary for Climate Change Dr Sivendra Michael

He also recognizes the importance of effective projects design.

The Pacific Resilience Facility will be based in Tonga.